TLDR
- Block has joined the x402 Foundation and added Bitcoin Lightning support to the x402 payment protocol.
- x402 is an open standard that lets AI agents pay for API access, data and digital services on their own.
- Block said Lightning suits the low-cost, high-volume payments that AI agent commerce will need.
- Google, Microsoft, Amazon Web Services, Coinbase and the Solana Foundation also back the x402 Foundation.
- The move builds on Block’s work with the Universal Commerce Protocol for small businesses.
Block has joined the x402 Foundation and added Bitcoin Lightning support to the x402 payment protocol. The company, which is led by co-founder Jack Dorsey, announced the move on Thursday.
The step is part of Block’s wider push into payments for AI agents. These are software programs that can carry out tasks and make purchases for people, such as booking services or buying data.
With the addition, AI agents using x402 can send payments over the Lightning Network. Lightning is a system built on top of Bitcoin that is designed for faster and cheaper transactions.
What x402 Does
x402 is an open payment standard. It lets AI agents and web services pay for things on their own, without a person approving each purchase.
The standard covers payments for API access, data and digital services. An API is a tool that lets one piece of software request information or services from another.
The x402 Foundation launched in April. It operates under the Linux Foundation, a nonprofit group that supports open source technology projects.
Block now joins a list of large technology backers. These include Google, Microsoft and Amazon Web Services, which runs Amazon’s cloud computing business.
Crypto companies also support the foundation. Coinbase and the Solana Foundation are among the members.
Why Block Chose Lightning
Block said Lightning is suited to the kind of payments that agentic commerce will depend on. The company pointed to the network’s ability to handle low-cost, high-volume transactions.
AI agents may need to make many small payments in a short time. For example, an agent might pay a small fee each time it pulls data from a web service.
Card payments often carry fees that make very small purchases costly to process. Lightning payments, by contrast, usually settle within seconds and often cost less than a cent.
Steve Lee leads Spiral, Block’s Bitcoin development initiative. He shared the company’s view on the new integration in the announcement.
“Bringing Lightning to x402 is a concrete step toward making Bitcoin everyday money for people and the agents acting on their behalf, and we’re excited to help the industry build on it,” Lee said.
Block has worked on Bitcoin projects for several years. Spiral, which funds and builds open source Bitcoin tools, is one of the ways the company supports that work.
The x402 move builds on Block’s role in another project. The company already takes part in the Universal Commerce Protocol.
That protocol is an effort to enable AI-driven commerce for small businesses, according to Block’s announcement.
The announcement did not include figures on how many developers or businesses are expected to use the new Lightning support.
Block’s announcement on Thursday marks its formal entry into the x402 Foundation. The company said it is excited to help the wider industry build on the new Lightning support.
The post Block Joins x402 Foundation, Adds Bitcoin Lightning Payments for AI Agents appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.